Greece's government, food industry and supermarket chains have agreed a voluntary framework to cut retail prices by at least 5% on 12 categories of basic goods starting August 31, for a period of two to four months. Fresh meat, dairy, bread, olive oil, coffee, cleaning products and school supplies are among the categories covered, while fresh fruit and vegetables are excluded. The deal follows the expiration of a profit-margin cap on June 30 and comes as Greece's June inflation eased to 4.4% even as beef, lamb and coffee prices kept rising.
President Prabowo Subianto has set a target for Indonesia to produce gasoline from palm oil and ethanol made from cassava, corn and sorghum within three to four years. He said the plan builds on the recent launch of B50 palm biodiesel and that the country stopped importing diesel this month.
Indonesia's state logistics agency Bulog has proposed a premium-grade version of its SPHP price-stabilization rice to rein in rising premium rice prices. The proposal is before the Agriculture and Food ministers, with price and volume still undecided. The Rp14,900 per kilogram premium retail ceiling will serve as a reference.
Nepal's tea industry, which supports thousands of jobs and earns billions of rupees in foreign exchange, faces continued uncertainty as India repeatedly restricts imports. Weak government support for quality improvement adds to the pressure on exporters.
Israel is on track for its strongest wheat harvest in ten years, with output estimated near 140,000 tons — about 50% above an average season, according to Ynet. A rare mix of early and late rains lifted both volume and grain quality, easing near-term reliance on imports.
Indian resources group Vedanta has restated its goal of producing 500,000 barrels of oil and gas a day in India. The company says the country holds 300 billion barrels of hydrocarbon resources and frames the push as a way to cut dependence on imported crude.
Central date markets across Saudi Arabia have begun receiving the first arrivals of the 2026 season, led by early rutab and local varieties in Riyadh, Medina, Al-Ahsa and Qassim. The kingdom produced about 1,922,932.5 tonnes of dates in 2024, with Qassim the top region.
The South Brazilian Dairy Alliance (ALSB) discussed opening new export markets for dairy products and measures to support and protect local production at a meeting on Monday, according to tudosobrexanxere.com.br. No target markets, product categories or concrete measures were disclosed.
Italian extra virgin olive oil prices fell 50% in a year to no more than 4.80 euros per litre, while mills held 221,000 tonnes of unsold stock at the end of May, panorama.it reports. Tariff-free Tunisian imports, intensive Spanish output and unclear EU labelling are eroding 'Made in Italy' oil, with 200,000 hectares of groves abandoned and 20% of production capacity at risk.
Sakstat data show Russia and Azerbaijan among Georgia's top wheat flour suppliers in the first five months of the year. Russia shipped 7,500 tonnes worth $3.6 million, far ahead of the rest of the field.
Spain produces around 130,000 tonnes of garlic a year, but imports have risen more than 30% over the past decade, according to El Confidencial Digital. Cheaper supplies from Egypt, China and Argentina are squeezing domestic growers and reshaping prices and origin labelling.
Spain's Guardia Civil dismantled six illegal tobacco factories, seizing more than 20 million cigarettes and 38.4 tonnes of cut tobacco and leaf. The bust reflects a European shift from smuggling to domestic counterfeiting, with KPMG estimating illicit consumption at 55.3 billion cigarettes in 2025.
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